Chainlink briefly trades higher than BTC, $399,960 buy order for 40 LINK

07 May, 2019
by Ryan Boltman
Fun
Chainlink briefly trades higher than BTC, $399,960 buy order for 40 LINK

It appears one unfortunate trader decided to try and kick-start alt season on their own buy purchasing Chainlink at prices above the cost of 1 BTC. 

The trade occured on Binance with the stable coin trading pair LINK/PAX. LINK has been picking up in popularity in recent days and apparently the whale wanted to accumulate as much as possible. 

Unfortunatly it appears the whale decided to market buy as much LINK as possible, and the thin order on the LINK/PAX pair means the orders flew straight up to $9,999 per 1 LINK. 

The price of LINK for a split moment was higher than that of Bitcoin. The lucky trader who's sell order was fulfilled, saw 40 LINK sold for a total of $399,960.

LINK/PAX Chart provided by Tradingview

Unfortunatly the whale lost out on this trade, but the seller will be over the moon with the trade. However, the pricing could in fact just be a bug on the Binance website. It is not uncommon to see massive price increases beyond normality on exchanges, often because of a system error or a bug on the charts. More often than not the trade did not even happen but is just an error. 

Binance have not confirmed this, however it is most likely possible as Binance have implemented safety procedures to prevent such trades from occuring. 

LINK has since returned to normal pricing, and is up 16.67% on the day. 

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